China's financial institutions' assets up 9.5 pct in Q1

Source: Xinhua| 2021-06-13 14:01:03|Editor: huaxia

BEIJING, June 13 (Xinhua) -- China's financial institutions saw expanded balance sheets in the first quarter of this year, official data showed.

The country's financial institutions saw their combined assets increase 9.5 percent year on year to 364.62 trillion yuan (about 57.1 trillion U.S. dollars) by the end of Q1, while their combined liabilities rose 9.6 percent from a year earlier to 331.6 trillion yuan, data from the People's Bank of China showed.

Banking institutions, accounting for the lion's share of the financial industry, reported a 9 percent rise in total assets, while companies in the securities industry saw their combined assets jump 22.1 percent year on year by the end of Q1.

The country's insurers reported combined assets of 24.26 trillion yuan, up 11.7 percent year on year, the central bank data showed. Enditem